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Noticias de SMMT
Eventos de SMMT
Summit Therapeutics Options Volume Normal, Implied Volatility at 4.1%
Pre-earnings options volume in Summit Therapeutics is normal with calls leading puts 19:6. Implied volatility suggests the market is anticipating a move near 4.1%, or 64c, after results are released. Median move over the past eight quarters is 11.0%.
Summit Therapeutics Initiates Ivonescimab Clinical Trial
Summit Therapeutics (SMMT) announced the initiation and opening of clinical trial sites of a multiregional Phase II study of ivonescimab, a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody, in previously untreated advanced clear cell renal cell carcinoma. The study is being conducted in collaboration with Summit's partner, Akeso (AKESF). SMT112-216 is a randomized, open-label Phase II clinical study designed to evaluate the safety and efficacy of multiple ivonescimab-based treatment approaches in patients with incurable locally advanced or metastatic ccRCC who have not received prior systemic therapy for advanced disease. The study plans to enroll approximately 100 patients at clinical trial sites in the U.S. and China. Participants will be randomized to receive ivonescimab in combination with cadonilimab, ivonescimab in combination with ipilimumab, ivonescimab monotherapy, or nivolumab plus ipilimumab as an established standard-of-care comparator regimen.
Summit Therapeutics Closes $2B Investment from AstraZeneca
Summit Therapeutics (SMMT) announced the successful closing of AstraZeneca's (AZN) strategic equity investment in Summit. The equity investment will support continued acceleration of the development of ivonescimab, a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody. Pursuant to the terms of the Securities Purchase Agreement entered into by Summit and AstraZeneca, AstraZeneca purchased an aggregate of approximately 108,955 shares of preferred stock convertible into shares of common stock of Summit at a 1:1,000 ratio. The investment by AstraZeneca totaled $2.0B
Summit Therapeutics Partners with Daiichi Sankyo and AstraZeneca for Clinical Trial
Summit Therapeutics (SMMT) announced a clinical trial collaboration agreement with Daiichi Sankyo (DSNKY) and AstraZeneca (AZN) to evaluate ivonescimab, a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody, in combination with Datroway, a TROP2-directed antibody drug conjugate, across multiple solid tumor settings, intending to include breast and lung cancer. The companies intend to begin with a Phase III trial in first-line triple-negative breast cancer. Under the terms of the agreement, each company will contribute their respective therapies for the planned combination trials which will be sponsored by AstraZeneca or Daiichi Sankyo. AstraZeneca, Daiichi Sankyo, and Summit will each contribute to trial costs, and each company will retain development and commercial rights to their respective medicines.
Stock Futures Edge Higher as Tech Stocks Stabilize
Sstock futures have edged higher in early trading as technology stocks stabilize, but elevated oil prices and Treasury yields tied to ongoing Middle East tensions continue to temper risk appetite.In pre-market trading, S&P 500 futures rose 0.13%, Nasdaq 100 futures were up 0.28%, and Dow futures gained 0.15%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Summit Therapeuticsup 19% after AstraZenecamakes $2B equity investmentFuelCellup 9% after Oppenheimer initiated shares with an Outperform ratingIovanceup 10% after raising revenue guidance for the yearNetflixup 1% after Deutsche Bank upgraded the stock to BuyChip companies Marvell, Micron, and Broadcomup 1% in a bounce following a sector-wide selloff on MondayNavitas Semiconductorup 9% after being awarded the ALATTIS program by the U.S. ArmyUP AFTER EARNINGS -CarMaxup 5%AAR Corp.up 4%IDT Corpup 3%DOWN AFTER EARNINGS -Vail Resortsdown 1%ReposiTrakdown 11%LOWER -FICOdown 22% after FHFA Director Bill Pulte announced that the agency is simplifying mortgage pricing following feedback, with Fannie Maeand Freddie Macmoving to one pricing gridUniQuredown 48% after saying that the benefits of AMT-130 for Huntington's disease were not as good after four years as they were after three years in a small trialMonday.comdown 2% after JPMorgan downgraded the stock to Neutral
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